ICE canola sees slight declines

By Jade Markus, Commodity News Service Canada

WINNIPEG, February 16 – ICE Canada canola contracts were slightly lower at midday on Thursday, pressured by losses in US soy markets.

Chicago Board of Trade soybeans and soy oil were lower with the expectation for a large crop from Brazil, which had a bearish effect on canola.

Strength in the Canadian dollar also added pressure to canola. Advances in the loonie make Canadian commodities less appealing to international buyers.

But prices were able to hold relatively steady despite that pressure.

“Its holding up very, very, very well,” said one Winnipeg-based trader. “So there’s still some good buyers in canola.”

Strong, steady demand for canola further limited losses, the trader said, alongside slower farmer-selling.

“There’s fairly light farmer-selling, which is typical through the wintertime,” he said.

About 17,801 canola contracts had traded as of 10:54 CST.

Milling wheat, durum, and barley futures were all untraded.

Futures Prices as of February 16, 2017

Canola
2017-02-16 10:56
Price Change
Mar 523.9 -0.20
May 531.5 -0.40
Jul 533.4 -1.10
Nov 506 -1.00
Milling Wheat
2017-02-16 00:00
Price Change
Mar 242.00 0.00
May 246.00 0.00
Jul 248.00 1.00
Oct 239.00 1.00
Durum
2017-02-16 00:00
Price Change
Mar 289.00 0.00
May 291.00 0.00
Jul 287.00 0.00
Oct 267.00 0.00
New Barley
2017-02-16 00:00
Price Change
Mar 135.00 0.00
May 137.00 0.00
Jul 138.00 0.00
Oct 138.00 0.00

Prices are in Canadian dollars per metric ton

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